2023-07-31-accounts - Pegasus Gymnastics Club Limited

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				Page
Report ofthe Trustees			I	to	4
Independent Examiner's	Report
Statement ofFinancial	Activities
Balance Sheet			7	to	8
Cash Flow Statement
Notes to the Cash Flow	Statement			10
Notes to the Financial Statements			11	to	21
Detailed Statement ofFinancial		Activities	22	to	23

							2023	2022
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
				Notes
INCOMF. AND FNDOWMFNTS			FROM
Donations and legacies								3,294
Charitable activities
Memberships					53,942		53,942	62,967
General classes					703,392		703,392	623,049
Merchandise sales					17,484		17,484	18,300
Gymnastics squad	fees	and event income			165,435		165,435	109,046
Investment income					879		879	30
Total					941,132		941,132	816,686
EXPENDITURE	ON
Raising funds
Raising donations	and	legacies		6	4,361		4,361	5,198
					4,361		4,361	5,198
Charitable activities
Charitable activities					758,614		758,614	670,419
Other					16,366		16,366	8,961
Total					779,341		779,341	684,578
NET INCOME					161,791		161,791	132,108
RECONCILIATION		OF FUNDS
Total funds brought forward					360,437	4,500	364,937	232,829
TOTAL FUNDS	CARRIED FORWARD				522,228	4,500	526,728	364,937

				2023	2022
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	13	123,513		123,513	60,902
CURRENT ASSETS
Stocks	14	200		200	200
Debtors	15	90,369	4,500	94,869	134,066
Cash at bank and in hand		441,583		441,583	316,948
		532,152	4,500	536,652	451,214
CREDITORS
Amounts falling due within one year	16	(133,437)		(133,437)	(114,679)
NET CURRENT ASSETS		398,715	4,500	403,215	336,535
TOTAL ASSETSLESSCURRENT
LIABILITIES		522,228	4,500	526,728	397,437
CREDITORS
Amounts falling due after more than one year	17				(32,500)
NET ASSETS		522,228	4,500	526,728	364,937
FUNDS	19
Unrestricted funds				522,228	360,437
Restricted funds				4,500	4,500
TOTAL FUNDS				526,728	364,937

					2023	2022
				Notes
Cash flows from operating		activities
Cash generated from operations					245,233	65,852
Interest paid					(833)	(1,077)
Net cash provided by operating activities					244,400	64,775
Cash flows from investing		activities
Purchase oftangible fixed	assets				(78,144)	(4,773)
Interest received					879	30
Net cash used in investing	activities				(77,265)	(4,743)
Cash flows from financing		activities
Loan repayments in year					(42,500)	(7,500)
Net cash used in financing	activities				(42,500)	(7,500)
Change in cash and cash	equivalents		in
the reporting period					124,635	52,532
Cash and cash equivalents		at the
beginning ofthe reporting		period			316,948	264,416
Cash and cash equivalents		at the end	of
the reporting period					441,583	316,948

	RECONCILIATION	RECONCILIATION	OF NET INCOME TO NET CASH FLOW FROM	OF NET INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
					2023	2022f
	Net income for the	reporting		period (as per the Statement ofFinancial
	Activities)				161,791	132,108
	Adjustments for:
	Depreciation charges				15,533	7,884
	Interest received				(879)	(30)
	Interest paid				833	1,077
	Decrease/(increase)	in	debtors		39,197	(75,486)
	Increase in creditors				28,758	299
	Net cash provided	by	operations		245,233	65,852
2.	ANALYSIS OF CHANGES			[N NET FUNDS

ANALYSIS OF CHA	N	GES [N NET FUNDS
			At 1.8.22	Cash flow	At 31.7.23
Net cash
Cash at bank and in hand			316,948	124,635	441,583
			316,948	124,635	441,583
Debt
Debts falling due within		1 year	(10,000)	10,000
Debts falling due after	1	year	(32,500)	32,500
			(42,500)	42,500
Total			274,448	167,135	441,583

3.	DONATIONS	DONATIONS	DONATIONS	AND LEGACIES	AND LEGACIES	AND LEGACIES	AND LEGACIES
										2023	2022
	Donations										733
	Grants										2,561
											3,294
	Grants received,			included		in	the above, are as follows:
										2023	2022
	Men's Artistic		Development				Grant				2,000
	Government	grants			including		the Job Retention		Scheme		561
											2,561
4.	INVESTMENT INCOME
										2023	2022
	Interest receivable									879	30
	INCOME	FROM			CHARITABLE ACTIVITIES
										2023	2022
							Activity			f,
	Membership		fees				Memberships			53,942	62,967
	Class fees						General classes			703,392	623,049
	Kit sales						Merchandise	sales		17,484	18,300
	Squad fees	and		event income			Gymnastics	squad fees and event income		165,435	109,046
										940,253	813,362
6.	RAISING	DONATIONS				AND LEGACIES
										2023	2022
	Support costs									4,361	5,198

									Support
								Direct	costs (see
								Costs	note 8)	Totals
	Charitable	activities						675,743	82,871	758,614
8.	SUPPORT	COSTS
								Management	Finance	Totals
	Raising donations			and	legacies			4,134	227	4,361
	Charitable	activities						78,556	4,315	82,871
								82,690	4,542	87,232
	Support costs, included				in the above, are	as follows:
									2023	2022
						Raising
						donations
						and		Charitable	Total	Total
						legacies		activities	activities	activities
									f
	Wages					2,571		48,850	51,421	67,056
	Social security						54	1,028	1,082	3,626
	Pensions						24	460	484	1,064
	Consultancy		fees				901	17,120	18,021	17,136
	Telephone						64	1,224	1,288	1,311
	Once costs						199	3,776	3,975	4,006
	Sundries						6	113	119	13
	Independent		examiners		fees		315	5,985	6,300	6,680
	Bank charges						227	4,315	4,542	3,057
						4,361		82,871	87,232	103,949
9.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)				is stated aller charging/(crediting):
									2023	2022
	Depreciation		- owned assets						15,533	7,885
	Independent		examiner's		fees for the audit	ofthe financial	statements		3,000	3,000
	Independent		examiner's		fees for non-audit	services			3,680	3,680

11.	STAFF COSTS
					2023	2022
	Wages and salaries				433,426	394,928
	Social security costs				25,078	23,458
	Other pension costs				8,812	6,267
					467,316	424,653
	The average monthly	number ofemployees		during the year was as follows:
					2023	2022
	Administrative employees				7	7
	Coaches				24	24
					31	31
	No employees received emoluments		in excess of860,000.
12.	COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				funds	funds	funds
				f	f
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies			1,294	2,000	3,294
	Charitable activities
	Memberships			62,967		62,967
	General classes			623,049		623,049
	Merchandise sales			18,300		18,300
	Gymnastics squad fees and event income			109,046		109,046
	Investment income			30		30
	Total			814,686	2,000	816,686

12.	COMPARATIVES	COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES	- continued
					Unrestricted	Restricted	Total
					funds	funds	funds
						g
	EXPENDITURE	ON
	Raising funds
	Raising donations	and		legacies	5,198		5,198
					5,198		5,198
	Charitable activities
	Charitable activities				669,379	1,040	670,419
	Other				8,548	413	8,961
	Total				683,125	1,453	684,578
	NET INCOME				131,561	547	132,108
	RECONCILIATION			OF FUNDS
	Total funds brought		forward		228,876	3,953	232,829
	TOTAL FUNDS CARRIED FORWARD				360,437	4,500	364,937
13.	TANGIBLE FIXEDASSETS
					Improvements
					to	Gymnastics
					property	equipment	Totals
	COST
	At 1st August 2022				88,274	99,770	188,044
	Additions					78,144	78,144
	At 31stJuly 2023				88,274	177,914	266,188
	DEPRECIATION
	At 1st August 2022				35,649	91,493	127,142
	Charge for year				4,974	10,559	15,533
	At 31st July 2023				40,623	102,052	142,675
	NET BOOK VALIJE
	At 31st July 2023				47,651	75,862	123,513
	At 31stJuly 2022				52,625	8,277	60,902

14.	STOCKS
				2023	2022
	Stocks			200	200
15.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
				2023	2022
					f
	Trade debtors			65,563	64,273
	Other debtors			29,306	69,793
				94,869	134,066
16.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
				2023	2022
					f
	Bank loans and overdrafls	(see note 18)			10,000
	Social security and other taxes			5,862	6,226
	Other creditors			27,698	3,540
	Deferred income			93,397	88,433
	Accrued expenses			6,480	6,480
				133,437	114,679
17.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
				2023	2022
	Bank loans (see note 18)				32,500
18.	LOANS
	An analysis ofthe maturity	of	loans is given below:
				2023	2022
	Amounts falling due within	one year on demand:
	Bank loan less than one year				10,000
	Amounts falling between one		and two years:
	Bank loans - 1-2 years				10,000
	Amounts falling due between		two and five years:
	Bank loans - 2-5 years				22,500

MOVEMENT	IN FU	N	DS
								Net
								movement	At
							At 1.8.22	in funds	31.7.23
								f
Unrestricted	funds
General fund							360,437	161,791	522,228
Restricted funds
Artistic Development		Grant					500		500
Men's Artistic	Development			Grant			4,000		4,000
							4,500		4,500
TOTAL FUNDS							364,937	161,791	526,728
Net movement	in funds,		included			in the above are as follows:
							Incoming	Resources	Movement
							resources	expended	in funds
Unrestricted	funds
General fund							941,132	(779,341)	161,791
TOTAL FUNDS							941,132	(779,341)	161,791
Comparatives	for movement				in	funds
								Net
								movement	At
							At 1.8.21	in funds	31.7.22
							f
Unrestricted	funds
General fund							228,876	131,561	360,437
Restricted funds
Children in Need Grant							413	(413)
Coaching Development			Grant				1,040	(1,040)
Artistic Development		Grant					500		500
Men's Artistic	Development			Grant			2,000	2,000	4,000
							3,953	547	4,500
TOTAL FUNDS							232,829	132,108	364,937

				Incoming	Resources	Movement
				resources	expended	in funds
Unrestricted funds
General	fund			814,686	(683,125)	131,561
Restricted funds
Children	in Need Grant				(413)	(413)
Coaching	Development	Grant			(1,040)	(1,040)
Men's Artistic Development			Grant	2,000		2,000
				2,000	(1,453)	547
TOTAL	FUNDS			816,686	(684,578)	132,108

				Net
				movement	At
			At 1.8.21	in funds	31.7.23
Unrestricted funds
General fund			228,876	293,352	522,228
Restricted funds
Children in Need Grant			413	(413)
Coaching Development	Grant		1,040	(1,040)
Artistic Development	Grant		500		500
Men's Artistic Development		Grant	2,000	2,000	4,000
			3,953	547	4,500
TOTAL FUNDS			232,829	293,899	526,728

				Incoming	Resources	Movement
				resources	expended	in funds
Uarestricted funds
General	fund			1,755,818	(1,462,466)	293,352
Restricted funds
Children	in Need Grant				(413)	(413)
Coaching	Development	Grant			(1,040)	(1,040)
Men's Artistic Development			Grant	2,000		2,000
				2,000	(1,453)	547
TOTAL	FUNDS			1,757,818	(1,463,919)	293,899

				2023	2022
INCOME AND	ENDOWMENTS
Donations and legacies
Donations					733
Grants					2,561
					3,294
Investment income
Interest receivable				879	0
Charitable activities
Membership fees				53,942	62,967
Class fees				703,392	623,049
Squad fees and event		income		165,435	109,046
Kit sales				17,484	18,300
				940,253	813,362
Total incoming	resources			941,132	816,686
EXPENDITURE
Charitable activities
Wages				382,005	327,872
Social security				23,996	19,832
Pensions				8,328	5,203
Rent and rates				162,000	155,880
Insurance				10,370	8,153
Event expenses				14,134
Kit purchases and awards				29,232	15,839
Consultancy fees				19,028	17,075
Repairs and renewals				9,967	7,098
Travel and subsistence				6,555	5,763
Stafftraining				7,315	5,828
Subscriptions				2,813	3,125
				675,743	571,668
Other
Improvements to	property		depreciation	4,974	4,974
Gymnastics equipment		depreciation		10,559	2,910
Bank loan interest				833	1,077
				16,366	8,961

			2023	2022
				f.
Support costs
Management
Wages			51,421	67,056
Social security			1,082	3,626
Pensions			484	1,064
Consultancy	fees		18,021	17,136
Telephone			1,288	1,3I I
Office costs			3,975	4,006
Sundries			119	13
Independent	examiners	fees	6,300	6,680
			82,690	100,892
Finance
Bank charges			4,542	3,057
Total resources	expended		779,341	684,578
Net income			161,791	132,108